Metro Manila (CNN Philippines) — Maynilad subscribers can expect an hike in their water rate by July, the water service provider announced on Tuesday (June 9).
In a statement, Maynilad said the Metropolitan Waterworks and Sewerage System (MWSS) granted Maynilad a foreign currency differential adjustment (FCDA) for the third quarter of 2015 which is equivalent to 1.26% of the average basic charge of P33.60 per cubic meter, which or an additional 42 centavos per cubic meter.
But Maynilad clarified that the increase will be less than a peso.
Maynilad customers using an average for 10 cubic meters or less per month will pay 11 centavos more, those using 20 cubic meters per month will pay 44 centavos, and consumers using 30 cubic meters per month will shell out 87 centavos in their monthly bills.
It added the water adjustment will start on July 1 until the end of September 2015.
“The FCDA is a tariff mechanism granted to utility companies to allow it to recover losses or give back gains arising from the fluctuating movements of the peso against other currencies,” the Maynilad statement said.
“This is because Maynilad pays foreign currency-denominated Concession Fees to the MWSS, as well as loans to fund service improvement projects that will expand and modernize water and sewerage services for its customers in the West Zone.”
